Legalizing Marijuana And Life Insurance: Breaking New Ground

For all you history buffs, you might know I’m referring to the prohibition period in the United States, where there was a ban against alcohol.

After just 5 years of prohibition, concern greatly grew it was not working. In fact, many believed it actually had the opposite effect, spurring vast numbers of speakeasies, underground bootleggers, and widespread home production of wine and moonshine.

The roaring twenties also ceased over 10% of the tax revenue brought in both locally and nationally, which came from tax on alcohol and related business.

It took until 1933 to tear down the prohibition wall, where the famous Clydesdales of Anheuser-Busch, Inc. marched a case of beer to the White House.

Legalizing Marijuana

The war against weed is an obvious one today, yet it’s obvious more and more repeal is coming to surface, and the fairness of legalization is being furiously contested. As in 1925 with the prohibition of alcohol, people are beginning to realize the overall impacts of the laws against marijuana are probably doing more harm than good.

Studies, of course, are being done to discover if pot is actually a major health concern or not. If, as more conclusive evidence arises, it is discovered to be unhealthy one could argue against it’s legalization. But we can all make a list of unhealthy things which are legal, and thriving.

Tobacco use and alcohol use are the number one and two recreational used substances in America, and there are extreme amounts of evidence they are not only deadly if used long-term, but something like alcohol poses immediate health threats if over consumed.

Next, marijuana as a cash crop could produce significant amounts of revenue in the form of not only normal business operations, but tax revenue for government. Just as seen in the decade of prohibition, there’s always a money motivation.

But there may be some breaking ground in a new arena which could prove yet another standpoint for the legalization of marijuana. Insurance while using Marijuana.

Marijuana and Life Insurance

Part of the legalization of marijuana has stemmed from the use of it medically. No different than doctors and nurses using alcohol in the 20’s, medicinal marijuana is now being used by many in the medical arena to not only subdue pain, but possibly even reverse the effects of some diseases.

This has lead to much reform in the recent underwriting practices of life insurance companies. Consider this: a recreational user of marijuana could be instantly declined for life insurance, yet one who uses it strictly for medicinal purposes, could be accepted.

The obvious, red flag question is, why? How can an insurance company treat the exact same substance in such different ways.

The life insurance market might actually give pro-pot lobbyists ground to fight for the legalization of marijuana. Of course, because life insurers are using the medical side of marijuana to determine how to issue life insurance for marijuana users, it’s still not a slam dunk.

Do Life Insurance Companies Test For Marijuana?

Some.

This only creates yet another case for the legalization of marijuana. How can some companies view it as almost a non-issue, when others test for it furiously and won’t even begin to consider it? Can the insurance companies truly be using such a wide range of medical documents to determine risk? Or, are they just choosing to ignore the reports and do what they want?

Ultimately, they each have their own choice to do what they want when it comes to underwriting requirements, because they have to back the claim. Unfortunately, it just makes it a lot harder for you as a consumer to figure out where to go to get the most fair policy.

Some companies don’t even look for the same things. One might look for THC, another might look for nicotine and common carcinogens. There isn’t really much uniformity yet. So it only begs the question, is there any fairness?

It’s easy to see why you’ll need to find an insurance company that is going to look at marijuana smoking more favorably. It could be the difference in being accepted for insurance coverage or being declined. Some insurance companies will lump you in with the smokers, while others will still give you preferred rating, which can save you thousands of dollars on your life insurance policy. There are thousands of insurance companies on the market, which means you could spend weeks calling companies and asking the same questions over and over, or you can let our agents do all of the work for you.

Unlike traditional life insurance agents that only work for one company, our insurance agents are independent. That means that we can legally represent dozens of highly rated insurance companies across the United States. We can bring all of the lowest insurance rates directly to you, without the hassle of spending hours on the phone. Working with our agents will not only save you time, but it will also save you money.

Additionally, there are several other ways that you can save money on your insurance policy. One of those ways is to focus on your health. The insurance company is going to require that you take a medical exam (unless you choose a no medical exam planor a guarantee issue policy, which are more expensive), and the results of that exam are going to play a major role in your monthly premiums. If you want to save money on your coverage, you’ll need to start a healthy diet and get regular exercise. Both of these are going to work wonders on your health as well as save you hundreds of dollars of year.

If you have any questions about life insurance for marijuana smokers or the different types of policies available to you, please contact one of our agents today. We would be happy to answer those questions and ensure that you’re getting the best insurance coverage for you and your family.

You can’t predict the future, but you can plan for the worst. Not planning for your passing could leave your loved ones with a mountain of debt and no way to pay for all of it. This is one of the worst things that you can do. Don’t wait any longer to get the life insurance policy that your family deserves.

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